When people leave your company, it is for their better future, but when you fire them, their worst starts.
Laying people off is the first thing companies consider when they heat hard. While as it should be the last option to consider.
Business is always up and down. Sometimes companies face extreme situations, and it gets tough to survive. But if you can, try to stay with as many as possible. There is the possibility to come back and return to the top. Because these are the same people who work hard for you, they made you to the top. It's not their fault.
The covid-19 pandemic brought a tough time for many businesses and individuals. Millions lost their jobs; families were devasted. It is causing more harm than pandemic itself. When such a hard time hits, companies carry a bigger social responsibility. Corporates must put people first and profit later in such times.
If it is do or die situation, how many you need to kill before you survive? Is it possible to reduce damage? Because if company close all will lose jobs, but can you do something before that?
Can you look at options, reduce working days to save some salaries, or lower the wages for some time. Sell some unused or excess assets. Take less or no profits home for few months. Innovate to different business models? Companies must try to save as many jobs as possible.
Building a good team and keeping good people on your side takes a long time. When people work hard for you, are you working hard enough to keep them with you before you let them go?
Business is all about people. People who support you, people who buy from you, and people who work for you, there is no business if there are no people. It is really about people.
Are you dealing with such a situation? Then talk to your team, partners, associates, shareholders, everyone who can help you. Try to find some solution to stay together. If that is impossible, ask everyone for help. Try your best to ensure those who are losing their job get some alternative to survive.
Every day when I go to work at Shimbi Labs, I always think about people. People are most important to me.